This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:Nucryst share price falls below Nasdaq requirements 2009-09-18 18:01 ET - News Release Mr. David Wills reports NUCRYST RECEIVES DEFICIENCY NOTICE FROM NASDAQ On Sept. 15, 2009, Nucryst Pharmaceuticals Corp. received notice from the Nasdaq Stock Market that it no longer complies with Nasdaq Marketplace Rule 5550(a)(2) because, for the previous 30 consecutive business days, the bid price of its common stock had closed below the minimum requirement of $1.00 per share. Receipt of this notification has no immediate effect on the Nasdaq listing of the company's common shares.
In accordance with Marketplace Rule 5810(c)(3)(A), the company has until March 15, 2010, to regain compliance, which requires a closing bid price of the company's common stock at or above $1.00 per share for a minimum of 10 consecutive business days. In the event the company does not regain compliance within this period, the Nasdaq will issue a written notification that the company's shares are subject to delisting. If the company is not deemed in compliance prior to March 15, 2010, but demonstrates that it meets all applicable standards for initial listing on the Nasdaq Capital Market (except the bid price requirement) on such date, it will be afforded an additional 180-day compliance period.
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